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Message Boards Settings HAWTHORNE GOLD CORP (Tier1) (HGC.V) - Quote Info
hgc.v a same imo      7-Oct-09 02:44 pm    
Posted on 10/06/09 at 8:22pm VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 6, 2009) -

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Hawthorne Gold Corp. ("Hawthorne" or the "Company") (TSX VENTURE:HGC)(PINK SHEETS:HWTHF) announces that, further to the Company's news release of September 24, 2009 (the "September News Release"), its Non-Brokered Offering of 6,250,000 Units has been re-priced from $0.45 per Unit to $0.40 per Unit. The exercise price for each whole Warrant has been re-priced from $0.55 to $0.50. The Warrants are subject to the acceleration provisions set out in the September News Release. The terms of the Brokered Offering contemplated in the September News Release have not been revised.

All capitalized terms used but not defined in this news release have the meanings ascribed thereto in the September News Release. Closing of the Non-Brokered Offering and the Brokered Offering are subject to a number of conditions, including the receipt of all necessary corporate and regulatory approvals, including the approval of the TSX Venture Exchange.

Proceeds from the Non-Brokered Offering and the Brokered Offering will be used to fund the continued resource and mine development of the Company's Cassiar Gold Mine and Taurus gold deposit and for general corporate working capital.

About Hawthorne Gold Corp.

Hawthorne Gold Corp. is a Canadian-based gold exploration and development company with key properties in British Columbia, Canada. Hawthorne is led by well-respected mining leaders Richard Barclay and Michael Beley. Hawthorne's goal is to become a junior gold producer by working towards production at Cassiar Gold Mine and to continue resource development of the nearby Taurus deposit, as well as the Frasergold deposit in the south central British Columbia Cariboo region. Hawthorne continues to review potential acquisitions, focusing on high quality, advanced gold development opportunities.


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